ROSEN: ENDING COST-SHARING REDUCTION PAYMENTS WILL RAISE PREMIUMS AND DESTABILIZE NEVADA'S HEALTH CARE MARKET
WASHINGTON, D.C. - Congresswoman Jacky Rosen (NV-03) released the following statement in response to reports that President Trump plans to unilaterally end cost-sharing reduction (CSR) payments to health insurers. The news comes less than 24 hours after President Trump signed another executive order to undermine the Affordable Care Act. Health exchanges in Nevada and across the country will be destabilized without these cost-sharing subsidies, hiking premiums and costs for low-income and working families.
“President Trump is making one reckless decision after another in his callousness to sabotage our health care system, and hardworking Nevada families will suffer as a result," said Rosen. "It's disappointing to discover once again that President Trump has no intentions of working across the aisle to improve our health care system. I'm going to continue my work to find common ground in Congress and bring stability back to the health insurance markets and ensure reliable, affordable healthcare for Nevada families."
BACKGROUND: Republican attempts to inject partisan chaos and sabotage the Affordable Care Act has created market instability in Nevada. This summer, two health insurance providers decided to pull out of the Silver State Exchange following repeated attempts by Republicans to repeal the Affordable Care Act. In August, Anthem cited market volatility and uncertainty surrounding cost-sharing subsidies as their reasons for exiting the Silver State Exchange. Premiums are expected to rise as high as 15% in Nevada.
Congresswoman Rosen is a co-sponsor of H.R.3258, the Marketplace Certainty Act, a bill that would immediately address market instability by controlling costs and help keep insurers from exiting the Silver State Exchange. The bill funds cost-sharing reductions provided by the Affordable Care Act, which would help drive down premiums costs and make insurance plans more affordable for consumers.